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Today in Munich, GE calls on European researchers and innovators: Pitch in your ideas to a €160 million open innovation challenge, and help build the electricity grids of the future.

GE’s $200M call for entrepreneurs to bring their smart grid technologies is also a challenge to the whole system of research, development and innovation in Europe.

Today in Munich GE launches a $200M venture fund for smart grid technology. Can this also help electrify Europe’s innovation machine?

GE is joining four US VCs in putting up $200M for open innovation in electricity generation, transmission and use, to deliver the environmental promise of smart electricity grids.

As research takes centre stage in economic strategy, the European Commission is making moves to turn its ideas on how to promote innovation into reality.